KVN Properties Seeks Rs 1,000 Crore to Expand Real Estate Ventures
KVN Properties, a Bangalore-based real estate firm, plans to raise Rs 1,000 crore through Kotak Realty Fund to expand its land parcel footprint in India. The funds will be raised via debentures and used for joint ventures, aiming at a development potential of 10 million sq ft by 2025-26.
- Country:
- India
In a bid to expand its real estate footprint, Bengaluru-based KVN Properties is reportedly in talks to secure Rs 1,000 crore from Kotak Realty Fund, sources indicated. The capital infusion is expected to drive the company's growth plans and stretch its land holdings across premium locations in India.
Founded by Venkat K Narayana, former CEO of Prestige Estates Projects Ltd., KVN Properties is eyeing joint development agreements and joint ventures with leading developers to maximize its real estate potential. Current projects include partnerships with Puravankara Group and Assetz Group.
The company, which declined to comment on the funding endeavour, is targeting a development potential of 10 million square feet by the 2025-26 timeframe, anticipating a gross development value exceeding Rs 4,300 crore from current ventures in North Bengaluru.
(With inputs from agencies.)
Google News